I would think that you really want to have a blog set up and drive traffic from Hub pages to your blog.
When you have an article pointing back to a blog from your Hub you are giving that blog more credibility. I do not think that your blog will give Hubpages more credibility.
Find a good keyword or keyword phrase and should bring you good traffic and start your blog about that. Then write your articles and send them to your blog.
You also would get 100% of the revenue on your blog and well as any revenue you earn here on your Hubs. From an earnings stand point you should be able to make more money on a particular set of keywords on your own blog.
But be certain to keep your blog on topic. The great thing about Hubpages is that you can write on almost anything, almost any keywords and the spiders don't mind.